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Bell Plaza Inks 2 Leases

SUN CITY, AZ-Del Webb's former headquarters locks in new leases tallying a 92% occupancy. The Bell Plaza Professional Buildings sign two leases with health-care service providers looking to expand in thepredominantly retirement community.

By Lee Simmons | Updated on May 25, 2004

SUN CITY, AZ-Two hospice-care providers have signed leases at the Bell Plaza Professional Buildings, bringing the former Del Webb headquarters up to 92% occupancy. The tenants join a growing list ofcompanies hoping to service Sun City’s retired community.”Sun City is a captive market,” Molly Wendell, an associate broker at Cushman & Wakefield in Phoenix, tells GlobeSt.com. “Companies are trying to service the retired community. When you go out to look forproperty, there’s not a lot of options. It’s interesting now that we’re getting some of the larger tenants who are using this as a homebase to go out into the community.”VistaCare signed a five-year lease worth approximately $17 per sf for 8,681 sf at Bell Plaza. The Scottsdale-based hospice-care provider will use the space as a home office for administrators and nurseswho service residents in the community. The company presently operates from a 3,400-sf temporary space in the building until its permanent suite is readied by Oct. 1.Hospice Family Care signed a similar five-year lease for 6,250 sf priced around $17 per sf. Previously located across the street, the relocation represents more than a doubling of space for the Tucson-based hospice-care provider. The new space will also serve as an administrative office.Located at 17220 North Boswell Blvd., Bell Plaza was constructed in 1974 as Del Webb Corp.’s original headquarters. The property features some 98,387 sf of rentable office space in two two-story buildings. Earl Capital Management of Phoenix purchased the buildings in July 2003 as a long-term asset. The property’s occupancy outperforms the market average for Sun City, which presently hovers around 83%.Wendell and Jay Hoselton of Cushman & Wakefield represented the owner; John Cerchiai of Lee & Associates represented VistaCare, and Scot Hall of Wolf Realty represented Hospice Family Care.

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